Woodside consolidates position in Porcupine basin off Ireland

Woodside Petroleum Ltd. has consolidated its position in Porcupine basin off western Ireland following the award of two exploration licences to Petrel Resources PLC, Dublin.

Woodside signed a farm-in deal with Petrel in mid-2013 pending the official award of the licences (3/14 and 4/14) (OGJ Online, July 2, 2013). The company will take an 85% interest in both and assume operatorship. The licences are both valid for 15 years.

Petrel has already identified several geological plays in the acreage. The company says the structural make up on this Atlantic margin region is different to that of the North Sea and it is keen to run a 3D seismic survey during the 3-year Phase 1 program.

Petrel rates the two permits, which cover a total of 1,400 sq km, as priority areas in the basin.

Woodside will carry Petrel through Phase 1 and begin with a full technical review of historic data before moving onto the seismic acquisition.

Woodside has already secured a position in the Porcupine basin with a 90% stake in the 1,271 sq km permit FEL 5/13 following an earlier deal with Bluestack Energy Ltd. It also has a 60% interest in two licence options in the region acquired from Two Seas Oil & Gas Ltd. in October 2013.

Woodside believes the Irish assets have low-cost access and they are a good match for its deepwater exploration capabilities.

Related Articles

OMV, Murphy acquire blocks offshore Namibia


OMV AG and Murphy Luderitz Oil Co. Ltd. have acquired 65% interest in Blocks 2613A and 2613B offshore Namibia from Brazil’s Cowan Petroleum.

Scott links South Atlantic OCS access bill to jobs growth plan

04/03/2014 US Sen. Tim Scott (R-SC) introduced a bill that would reverse the Obama administration’s exclusion of four South Atlantic coastal states from activ...

Lukoil completes exploration well offshore Ivory Coast


Lukoil Overseas has completed drilling an exploration well on Block CI-101 offshore Ivory Coast.

New Zealand offers offshore tender

04/02/2014 New Zealand’s Petroleum & Minerals (NZPM) has announced a 2014 tender for petroleum exploration permits. The offer includes five offshore and t...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected